RE:RE:RE:RE:RE38 A few years back I was involved with shares of another Health Industry company called Biosyntech. It went belly up. This is an excerpt from a legal firm in the U.S. that is doing a class action lawsuit. Note the company that took over the proprietary technology is based in India. I doubt if anyone will get anything out of the suit. It has been going on for at least 4 years I think. This info below was issued by the legal firm in June, 2013 I believe.
"The Board oversaw a troubling pattern of negligence that resulted in the hurried sale of its intellectual property and subsequent bankruptcy of the company when it was on the verge of disclosing pivotal, stage III, clinical results for BST-Cargel, its promising, flagship medical device to repair damaged knee cartilage.
Piramal Healthcare Ltd., a shareholder in BioSyntech Inc. with a representative on the Board, purchased the company's intellectual property for just over 4.5 million dollars.
The class action seeks compensation for the damages that securities holders in BioSyntech Inc. suffered as a result of the faults of the Board members. These faults have deprived class members of their right to share in the profits of what Piramal Healthcare Ltd. now calls a billion dollar global market for BST-Cargel."